This note presents a model of commercial construction activity that incorporates the availability of mortgage funds as well as the mortgage rate. Empirical tests show that mortgage availability is an important determinant of construction. The model is used to indicate that the flood of mortgage...

There is a growing awareness that corporations can profit from more effective management of their real estate assets, yet there is little academic research in the field. Based on a survey of corporate real estate executives, this article identifies some key organizational and operational factors...

This study examines the correlation between loan-to-value ratios and probability of default, and tests alternative cost-based default models, using data from the portfolios of FSLIC and a major regional lender. The theoretical premises for the research are synthesized from a review of the...

This study investigates whether consideration of proxies for borrower asset status can contribute to understanding of consumer FRM vs. ARM mortgage choice behavior. In the context of probit analysis, it is found that considerations of asset status proxies significantly improves statistical...

This study represents the first investigation of appraiser income at the national level. It is especially timely because it addresses the value of Appraisal Institute designations in a post-FIRREA world, in addition to investigating the impact of gender on appraiser income. The study employs a...

The focus of this paper is the analysis of the inflation risk of European real estate securities. Following both a causal and a final understanding of risk, the analysis is twofold: First, to examine the causal influence of inflation on short- and long-term asset returns, we employ different...

Management’s (board of directors or executive officers) contribution to a firm is difficult to directly observe, although stock return performance can be a source of information. This study addresses this issue by extending the work of McIntosh, Rogers, Sirmans and Liang (1994) by...

This study empirically exams the combination of regret aversion and false reference points in a residential real estate context. Survey respondents were put in a hypothetical situation, where they had purchased an investment property several years ago. Hindsight knowledge about a foregone all...

Many databases used for real estate market analysis are not available at the address level. For example, information on employment and unemployment may be available only for labor market areas; and Census data is typically tabulated for blocks or higher levels of spatial aggregation. A...

The long-term demand for commercial real estate depends on the relative attractiveness of each metro market compared to all other metro areas. Economic growth models can generate reliable forecasts of commercial real estate demand, but only for the near term. To analyze and compare metro areas...